A bill to create a board representing Colorado policyholders that would advise the state insurance commissioner on rates is drawing fire from an insurance trade group.
The National Association of Mutual Insurance Companies said it will oppose legislation in Colorado creating an 11-member Consumer Insurance Board, calling it “a redundant and inappropriate use of state revenue.”
The measure–introduced by State Rep. Fran Coleman, D-Denver–calls for a board with four consumer representatives as well as one from the insurance industry, one representing large corporations, as well as representatives of small business, hospitals, health care providers, labor and rural communities.
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